SEA FREEZER & BEVERAGE COOLER MARKET ANALYSISPosted by Trupti on March 18th, 2021 A freezer & beverage cooler is a type of electric equipment that is used for beverage and food preservation. It consumes less energy to cool different beverages. Furthermore, a freezer is used to keep food frozen at extremely low temperatures. Generally, a household freezer is built into a refrigerator to keep ice cubes and ice creams. Freezers and beverage coolers are available in different capacities namely 500 & above liters, 300 & 500 liters, 200 & 300 liters, and 200 & below liters. There are various type of freezer available in the market such as ice-cream freezers, chest freezer, upright freezer, beverage coolers and wine coolers. This will provide option to consumer to choose specific cooler as per their requirement in term of quality, style, technology and design. Market Dynamics Growing trend of consumption of fast food amongst urban population and adoption of western style cuisine are the major factors that are expected to drive the market growth over the forecast period. Growing urbanization in the regions such as India and China is supporting the growth of market. Improving living standards, increasing disposable income, and rising international and domestic tourism is expected to increase the demand of SEA freezer and beverage market. People are inclining towards fast food due to increase in the consumption of western style cuisine in emerging economies, owing to the rapid expansion of QSR (Quick Service Restaurant) such as MC Donald, Subway, and Burger King. Changing food habits has been an important factor for the growth of the market. According to the American Customer Satisfaction Index (ACSI), in 2017, McDonald Corporation generated a total revenue of 21.03 billion U.S. dollars and total assets amounted to approximately 32.81 billion U.S. dollars. Hectic lifestyles and purchasing power of the working populations are some major factors aiding the demand growth of SEA freezer and beverage market. Growth of modern grocery retailers is expected to drive market growth over the forecast period. Many countries in SEA are popular for traditional wet markets, small independent grocery retailers, and food stalls. However, in the recent past, SEA region has witnessed the emergence of modern retailing. Higher per capita disposable incomes, increasing urbanization, lifestyle changes leading to increase in the demand for packaged foods and ready-meals, increasing consumer desire for quality products in bright and sanitary environments, and increasing demand for one-stop shopping are causing modern retail to flourish. Freezers and Beverage coolers are deployed in large numbers by these modern retailers. According to Coherent Market Insights' analysis, the modern grocery retail market in SEA recorded sales of over US$ 504.3 billion in 2014. According to the same source, Vietnam registered the fastest growth of retailing business at CAGR of 11.2% from 2007 to 2014. These factors are expected to propel the SEA freezer & beverage cooler market growth over the forecast period. Market Taxonomy This report segments the SEA freezer & beverage cooler market on the basis of product type, capacity, door type and country. On the basis of product type, the SEA freezer & beverage cooler market is segmented into Ice-cream freezers, chest freezer, upright freezer, beverage coolers and wine coolers. On the basis of capacity, the SEA freezer & beverage cooler market is segmented into500 & above liters, 300 to 500 liters, 200 to 300 liters, 200 & below liters. On the basis of door type, the SEA freezer & beverage cooler market is segmented into 4 door & above, 3 door, 2 door and 1 door. On the basis of country, the SEA freezer & beverage cooler market is segmented into Indonesia, Vietnam, Thailand, Philippines and Malaysia Key features of the study:
Detailed Segmentation:
About Us: Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: Contact Us: Mr. Shah Coherent Market Insights Pvt Ltd, 1001 4th Ave, #3200 Seattle, WA 98154, U.S. sales@coherentmarketinsights.com Like it? Share it! More by this author |